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[October 2003]
Elkem Report Third Quarter Results
Elkem Group income from operations before goodwill depreciation and other items in the third quarter of 2003 was NOK 414 million. The corresponding figure for the second quarter was NOK 359 million. Income from operations for the first nine months of the year was NOK 1.236 billion.
Normally, the third quarter tends to be slightly weaker than the other quarters of the year. This relates to lower shipments during the holiday period, lower power production and a concentration of periodic maintenance in the summer months. The fact that in spite of this Q3 delivered one of Elkem's highest quarterly results it attributes to good and stable operations at most units and good income from the power business.
Net profit after tax for Q3 was NOK 199 million. So far this year, profit after tax has amounted to NOK 658 million. Net sales for Q3 were NOK 4.818 billion. Net sales for the first nine months amounted to NOK 13.681 billion.
The segment of the group relevant to this industry is Elkem Materials, part of the Materials & Logistics Division. Elkem Materials is responsible for the marketing and development of a range of sealing, wear resistant and refractory materials such as Elkem Microsilica(r), Ceramite(r) and Max products. Filter technology and equipment for filters for off-gas cleaning is supplied to smelting plants and coal-fired power plants.
www.elkem.com
ENDS